Greece

Banking, finance and capital markets

Koutalidis Law Firm has a â€˜fantastic reputationâ€™ and advised Bank of America Merrill Lynch on capital control restrictions imposed on the Greek banking system. It also advised National Bank of Greece, as arranger, on a â‚¬200m bond loan to Hellenic Petroleum, and acted for Alpha Bank in its â‚¬2.55bn recapitalisation. The team also advised Alpha Bank and Eurobank on an agreement with KKR to assign the management of NPL exposures to a select number of Greek companies. Nikos Salakas heads the team and Nikos Pimblis is also noted.

Dispute resolution

The â€˜highly regardedâ€™ team at Koutalidis Law Firm is active across finance, energy, construction and commercial disputes. It continues to advise a major Cypriot bank (in administration) in a case against a number of Greek entrepreneurs, and is advising Intrasoft International on several contentious matters. Gregory Logothetis and Evangelos Courakis head the team.

EU and competition

Koutalidis Law Firm advises the consortium formed by Fraport and Copelouzos Group on merger control approvals, state aid and other antitrust issues relating to the privatisation of regional airports in the Hellenic Republic. Katia Protopapa and Stamatis Drakakakis lead the department.

Energy

Koutalidis Law Firm advised the Hellenic Republic Assets Development Fund on the privatisation of DEPAâ€™s wholly owned subsidiary DESFA. Suzlon Energy and China Yangtze Power are also clients. Gregory Logothetis and Evangelos Courakis head the department.

Projects and privatisation

Koutalidis Law Firm advised the consortium formed by Fraport and Copelouzos Group on matters relating to the privatisation of 14 regional airports in Greece. Among the â€˜experiencedâ€™ team, Nikos Koritsas leads on privatisations and Nikos Salakas leads on project finance matters.

Real estate and construction

Koutalidis Law Firm is assisting Fraport Greece on the negotiation of construction contracts relating to the refurbishment and expansion of 14 Greek airports. It is also advising Aegean Motorway on real estate issues. Gregory Logothetis leads the team, and senior associate Ioannis Kaplanis is also singled out for praise.

In Galaktoviomichania Larisis AE v I Kesioglou & Sia
OE (Opposition No B 2 107 822,
December 18 2013), the Opposition Division of the Office for Harmonisation in
the Internal Market has upheld in part an opposition against the registration
of the trademark OLYMPOS FOODS-OLYMPOS COMMODITIESOLYMPOS MEDITERRANIAN-OLYMPOS
ORGANICS-K&K FINANCE.

The
special IP law chamber of the Athens Multi-Member Court of First Instance has
issued its decision in a case involving the famous 'Vara' buckle device, an
internationally renowned symbol that has been closely associated with shoe
designer Salvatore Ferragamo for more than 30 years.

Over the last six years, Greece has been under an austerity
restructuring and adjustment programme, receiving extended support from
European financial institutions and international creditors, in an attempt to
tackle its structural weaknesses, overly high deficits and incessant market
stagnation.

Lately, domestic and international
financial and corporate players are looking closely on the Athens Exchange
seeking for safe yet high return investment opportunities in Greece and the
wider South East Europe through takeover bids on securities of companies
established in Greece and listed on the local exchange with significant
presence in the
wider region. It is common knowledge that M&As consist the most transparent and
efficient way to gain control of the desired "target" company, following a
public offer on all or a part of the target's capital. However, this does not
seem to be their unique advantage in Greek legal order. The speed of their
conclusion, with an average duration of two months, allows the investor to
begin with his businesses without considerable waste of time and resources. As
of this, he is in position to choose a board of his own preference almost the
very following day of the expiry of the public offer's time and to focus on
what he primarily intended and is good at - making business.

As of 1 st Â February 2014, both Criminal and Criminal Procedure
Codes were implemented, replacing regulations that have been in force since
1968, drafted at a time when the political status
quo in Romania not only discouraged but even forbade private initiative.

The
Government of Albania has issued the final version of the draft law on Value
Added Tax. According to the Minister of Finance, once approved by the
Parliament, the new VAT law is expected to enter into force on January 1, 2015
and replace the current law on VAT, as well as all respective regulations. The draft law has been prepared with the support of the European Union,
setting as its principal aim to harmonize legislation on VAT with the acquis
communautaire , in compliance with the Stabilisation and Association
Agreement.